Bitcoin ATMs Grew by 720 Percent Since 2016, 3600 Machines Added Worldwide

The number of Bitcoin ATMs have grown by 720 percent since 2016, adding a total of 3600 machines worldwide.

Bitcoin ATMs are kiosks which allow someone to purchase Bitcoin and other cryptocurrencies using cash, debit, or credit card.

Statistics on Bitcoin ATMs. According to statistics from Coin ATM Radar, the number of Bitcoin ATMs have grown substantially since 2016, roughly doubling every year.

From 2016 to present, there are 3,800 new Bitcoin ATMs, 2100 of which were established within the last 12 months.

These ATMs charge an average transaction fee of 8.9 percent, according to data from Coin ATM Radar.

Virtually all crypto ATMs offer Bitcoin, but many of these machines also offer other cryptocurrencies: 66 percent offer Litecoin, 55 percent offer Ethereum, 33 percent offer Bitcoin Cash, and 18 percent offer Dash.Talking with a Leader in the Industry.

Since the company's partnership with Coinstar, Coinme claims to "Power the largest bitcoin kiosk network in the United States," stating to have added over 1850 ATMs since 2015.

Although fees do tend to be higher with Bitcoin ATMs, the added convenience and accessibility is likely to increase consumer use of bitcoin, especially for those without easy-access to reliable online exchanges.

"As the first licensed bitcoin ATM company in the US, we did not have an established playbook to refer to for regulatory approvals. As with many things in this industry, you need to start with education around technology and a sincere mission to protect consumers."

Overall, the growth of Bitcoin ATMs reflects expected or growing consumer appetite for bitcoin.